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Ever since Donald Trump won the 2024 US presidential elections, bitcoin has been surging, going up over 40% in the last two weeks. Recently, the cryptocurrency soared past $97,000, having risen 8.32% in just the last 7 days, and is currently trading at $96,906.09. The overall crypto market is also buoyant, with the crypto volume jumping 10.06% over the past 24 hours to touch $198.83 billion. The markets are enthused about Bitcoin's prospects going ahead, given that Trump has hinted towards establishing a dedicated role in the White House for deliberating crypto policies. Trump has been vocally pro-crypto and had promised, during his presidential campaign, to scale back <keyword id="24085738" type="General" weightage="20" keywordseo="crypto-regulations" source="keywords">crypto regulations</keyword> and fire SEC chair Gary Gensler, who had initiated a crackdown on digital assets in the US. The crypto lobby in the US has been advocating for crypto-friendly SECs and access to banks. In a bid to do so, crypto companies have pumped in over $119 million to support pro-crypto candidates. Says Edul Patel, co-founder and CEO of Mudrex, "Market sentiment grew stronger from Bloomberg's report of Trump’s plan to establish a dedicated White House role for crypto policy. The anticipation of faster regulatory clarity coupled with BlackRock’s Bitcoin ETF options projecting a $176k price target by 2026 has driven BTC’s price to the $95K milestone and beyond." The ongoing rally is not restricted to just bitcoin but also extended to Solana and XRP, which gained 10.85% and 59.02%, respectively, over the last 7 days. But does this mean that good times are coming for <keyword id="19991358" type="General" weightage="20" keywordseo="Indian-markets" source="keywords">Indian markets</keyword> as well? Apurva Sheth, Head of Market Perspectives &amp; Research, SAMCO Securities, notes that bitcoin is a proxy for risk-taking in the markets. Bitcoin moving up means the risk appetite of investors is rising. Conversely, if it falls, then investors prefer safety." Both Nifty and Sensex have lost over 5% each over the last month. FIIs (<keyword id="19932515" type="General" weightage="20" keywordseo="foreign-institutional-investors" source="keywords">foreign institutional investors</keyword>) have also been scrambling out of Indian markets, having withdrawn Rs 1,14,445.89 crores during October 2024 and offloading Rs 34,348.30 crore so far in November. During trade today, Nifty and Sensex remained in red, with Nifty down by 0.74% and Sensex down by 0.6%. DIIs (domestic institutional investors) have been trying to keep the market afloat in both October and November, pumping in Rs 31,636.77 crore in Indian markets in November so far. Last month, DIIs infused Rs 1,07,254.68 crore in the Indian markets. According to an NSE report, by the end of the previous quarter, FPIs holding in NSE-listed companies stood at 36.3%, despite the seventh consecutive quarterly decline. Previously, FIIs holding in listed companies had hit a record high of 39.9% in December 2021. In contrast, DIIs are increasingly making headway into the Indian markets. Active Domestic Mutual Funds (DMFs) have been increasing their investments in the NSE-listed companies. Their ownership in these companies has risen from 12.4% in December 2021 to 15.7% as of September 30, 2024. Banks and insurance companies have also expanded their market share. Their ownership in NSE-listed companies has grown from 8.8% three years ago to 11% as of pr quarter.

The Bitcoin rally does not seem to be stopping anytime soon! Does this spell good news for Indian markets?

<ul class="summary-list"><li>Former President Donald Trump bested Vice President Kamala Harris in the 2024 presidential election.</li><li>Trump won largely by breaching Democrats' "blue wall."</li></ul>Former President <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump">Donald Trump</a> won a second term in office, overcoming an intense level of political opposition — as well as doubts over his fitness for office — by driving home a message that he would be the best candidate for Americans' pocketbooks.<a target="_blank" class="" href="https://x.com/FoxNews/status/1854053633198825482">Fox News</a> called the race early Wednesday morning. A little under four hours later, <a target="_blank" class="" href="https://x.com/CNN/status/1854109735076676021">CNN</a>, <a target="_blank" class="" href="https://x.com/NBCPolitics/status/1854109434735169912">NBC News</a>, <a target="_blank" class="" href="https://x.com/CBSNews/status/1854111079984501068">CBS News</a>, and <a target="_blank" class="" href="https://x.com/ABCPolitics/status/1854111153305088285">ABC News</a> also called a Trump victory after the result in Wisconsin put Trump over the 270 electoral votes he needed to win the presidency.In defeating Vice President <a target="_blank" class="" href="https://www.businessinsider.com/kamala-harris">Kamala Harris</a>, Trump will return to the White House after voters ousted him from office in the 2020 election.Trump had essentially been running for president since his 2020 loss. He sought to overturn Joe Biden's victory and was impeached by the US House of Representatives for "incitement of insurrection" over his role in the Capitol riot on January 6, 2021. (He was later acquitted by the US Senate.)In November 2022, Trump launched his presidential campaign on the heels of a disappointing night for the GOP, as the party failed to retake the Senate and only barely won back a House majority. But he used the head start to hammer potential GOP primary opponents and gradually reaffirmed his standing as the party's leader.Trump easily dispatched top figures like Gov. <a target="_blank" class="" href="https://www.businessinsider.com/ron-desantis-wife-kids-family-photos">Ron DeSantis</a> of Florida and <a target="_blank" class="" href="https://www.businessinsider.com/nikki-haley-family-husband-kids-immigrant-parents-photos">Nikki Haley</a>, the former ambassador to the UN, in the 2024 GOP primaries, which further strengthened his hand as he eyed a general-election rematch against Biden.But Biden's exit from the race — following a disastrous <a target="_blank" class="" href="https://www.businessinsider.com/what-happened-biden-trump-debate-takeaways-2024-6">debate against Trump</a> in June — paved the way for Harris' candidacy. The vice president quickly consolidated Democratic support and attracted the sort of donor base that was able to compete directly with GOP megadonors.Still, Trump continued to hold a polling advantage on the economy throughout the general-election race, which for many voters overrode concerns over his behavior while in office.And despite Harris' strong start and her robust campaign apparatus, she was still unable to overcome Trump's enduring level of support from his conservative base.Addressing his supporters in West Palm Beach, Florida, early Wednesday morning, before the race was called, Trump said his election victory would usher in the "golden age of America" and vowed to "help our country heal.""America has given us an unprecedented and powerful mandate," he added.Trump's return to the White House is also poised to have profound effects on the judiciary.Should either Associate Justices <a target="_blank" class="" href="https://www.businessinsider.com/clarence-thomas-takes-aim-at-osha-2024-7">Clarence Thomas</a> or Samuel Alito retire from the bench within the next four years, Trump has the potential to name at least one more conservative jurist to the court. And if he is able to appoint two additional justices, it means that a majority of the court would consist of his appointees — a stunning level of influence that could have reverberations for generations.

Trump wins the 2024 presidential election

Days after Trump won his way to the White House, becoming the 47th President of the United States, the US Federal Reserve slashed the interest rates by 25 basis points, bringing them within the range of 4.5-4.75%. This is the second time this year that the Fed has lowered the interest rates, after cutting them down by 50 basis points in September 2024. u Fed chair Jerome Powell noted that monetary policy remains tight as inflation remains elevated at 2.4% as of September 2024, slightly above the 2% mark set by the commission. However, the Fed remained optimistic about the current state of the economy. "The Committee seeks to achieve maximum employment and inflation at 2% over the longer run. The Committee judges that the risks to achieving its employment and inflation goals are roughly in balance. The economic outlook is uncertain, and the Committee is attentive to the risks to both sides of its dual mandate," the FOMC (Federal Open Market Committee) noted in its press release. The rate cut was along widely anticipated lines, although experts were wary of the Fed's way ahead, given that Donald Trump has been elected as the US President. In the past, he has, on multiple occasions, expressed his desire to yield greater influence on the Fed, apart from publicly criticizing Powell. However, Powell continued to stand his ground, noting that Trump cannot legally sack him. He believed in keeping the Fed independent, at least until his tenure as governor ends in 2028. He highlighted that even if he is explicitly asked by Trump to quit, he won't do so. <h2>Trump's regime to inch up inflation?</h2> Trump's electoral promises, if translated into policies, could spell disaster for the Fed's effort to curtail inflation. Reportedly, Trump has promised to levy aggressive tariffs against US trading partners, particularly China, and even extend his 2017 tax cuts. This could mean higher levels of the federal deficit, which would push up prices, wages, and hence, inflation, even as the Fed tries to consistently bring it under control. Apurva Sheth, Head of Market Perspectives and Research, SAMCO Securities, notes that it wasn't a surprise when the US Fed cut interest rates by 25 basis points (bps) to 4.75%. The Fed had given enough clues, and the market too had anticipated these rate cuts. "However, what was surprising was how the <keyword id="23863852" type="General" weightage="20" keywordseo="US-10-year-bond-yields" source="keywords">US 10-year bond yields</keyword> moved over the last one and a half months, which have been rising relentlessly from 3.6% to almost 4.5% despite the 50 bps cut in the last Fed meeting. It seems that the market is anticipating slower rate cuts going ahead, and maybe there are even chances of inflation rising. The bond yields have cooled off and slipped below the 4.335% mark. This should be bullish for emerging markets like India," he added.

US Fed cuts interest rates by 25 bps, Powell notes Trump's victory to have no impact on policy decisions

<ul class="summary-list"><li>AOC during a recent Instagram Q&amp;A asked voters why they backed her candidacy and Trump's reelection.</li><li>The responses were candid, and many pointed to the economy and the conflict in Gaza.</li></ul>Similar to Democrats across the country reflecting on Vice President Kamala Harris' election loss, New York Rep. <a target="_blank" class="" href="https://www.businessinsider.com/aoc-democratic-national-convention-speech-political-evolution-progressives-mainstream-2024-8">Alexandria Ocasio-Cortez</a> has spent time thinking about the ramifications of President-elect Donald Trump's return to the White House. Ocasio-Cortez, a strong backer of Harris and one of the most progressive voices in the US House of Representatives, took to Instagram this past weekend where <a target="_blank" class="" href="https://x.com/SJohnson99/status/1855782107118735587/video/1">she argued that "most people" aren't ready</a> for the president-elect in office again. During her conversation, she highlighted Trump's pledge to initiate <a target="_blank" class="" href="https://www.businessinsider.com/trump-mass-deportation-thomas-homan-illegal-immigration-border-czar-ice-2024-11">mass deportations</a> as well as his <a target="_blank" class="" href="https://www.businessinsider.com/trumps-tariffs-threats-world-ceos-thoughts-trade-2024-11">tariff threats</a>. Then Ocasio-Cortez opened up the floor to Instagram users, asking for responses from people who backed her reelection in New York's 14th Congressional District and Trump's candidacy or who backed Trump and downballot Democrats in other states. Many of the responses pointed to two key issues: the economy and the conflict in Gaza. <a target="_blank" class="" href="https://www.businessinsider.com/harris-trump-blue-wall-democrats-suburban-voters-unions-2024-11">Harris crafted an economic message</a> that she believed would differentiate herself from President Joe Biden, who stepped aside as the presumptive Democratic nominee in July. And the vice president sought to reassure voters concerned over the Israel-Hamas war and the plight of Palestinians that she would work to secure peace in the region as president. But she wasn't able to counter Trump's electoral performance. A slew of Instagram users said they registered their general frustration by not supporting Harris. The responses to Ocasio-Cortez included: <ul><li>"It's real simple… Trump and you care for the working class"</li><li>"Trump is going to get us the money and lets men have a voice. You're brilliant and have amazing passion!"</li><li>"I feel like Trump and you are both real."</li><li>"I know people that did this and it was bc of Gaza."</li><li>"You are focused on the real issues people care about. Similar to Trump populism in some ways."</li><li>"Because of Gaza"</li><li>"I voted Trump and dems because he reached out to Muslims"</li></ul>Democrats struggled to rally core parts of their longtime base — which included younger Black men and Latino voters — which benefited Trump. <a target="_blank" class="" href="https://www.businessinsider.com/trump-margins-democratic-states-harris-underperform-2024-11">The president-elect made major inroads</a>, notably in several Democratic-heavy states, as many voters remained frustrated over the direction of the country. Harris argued that her presidency would have tackled of some of the biggest economic and foreign policy challenges that the country faced, but in the end she wasn't able to recreate Biden's 2020 coalition. Correction: November 12, 2024 — An earlier version of this story overstated what is known about the people who responded to Rep. <keyword id="22445548" type="General" weightage="20" keywordseo="Alexandria-Ocasio-Cortez" source="keywords">Alexandria Ocasio-Cortez</keyword> on Instagram. It's unclear whether the respondents voted.

AOC asked voters why they backed her candidacy and Trump's reelection. Instagram users pointed to the economy and Gaza.

Joe Rogan endorsed former President Donald Trump hours ahead of Election Day in a Monday-evening podcast and social-media post. The influential podcaster cited the billionaire Elon Musk in his X post announcing the endorsement, saying the Tesla CEO made "the most compelling case for Trump." "The great and powerful @elonmusk. If it wasn't for him we'd be fucked," Rogan wrote. "For the record, yes, that's an endorsement of Trump," Rogan added. The endorsement accompanied a two-hour-and-40-minute podcast on which Musk appeared. The billionaire has poured millions of dollars into the <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-donald-trump-support-reflects-business-approach-tesla-2024-10">effort to elect Trump</a>. Rogan's endorsement came after <a target="_blank" class="" href="https://www.businessinsider.com/trump-joe-rogan-interview-podcast-young-male-voters-2024-10">Trump appeared on "The Joe Rogan Experience"</a> last month, a major win for the Republican candidate, who had the chance to speak directly with Rogan's more than 14 million Spotify listeners. In less than two weeks, <a target="_blank" class="" href="https://www.businessinsider.com/trump-3-hours-late-to-own-rally-joe-rogan-interview-2024-10">the three-hour conversation</a> has racked up more than 45 million views on YouTube. Trump has been working hard to win over — and mobilize — <a target="_blank" class="" href="https://www.businessinsider.com/trump-targets-young-men-theo-von-logan-paul-adin-ross-2024-8">young male voters</a>, who comprise the bulk of Rogan's listening demographic. In 2022, Rogan said he wasn't a Trump supporter, adding that he'd turned down opportunities to have the former president on his show. "I don't want to help him. I'm not interested in helping him," Rogan said at the time. Rogan said he also tried to pursue an interview with Vice President Kamala Harris, but her campaign requested he travel to conduct the conversation. "I strongly feel the best way to do it is in the studio in Austin," he said on X. "My sincere wish is to just have a nice conversation and get to know her as a human being. I really hope we can make it happen." Correction: November 5, 2024 — An earlier version of this story misstated when Trump appeared on "<keyword id="23143121" type="General" weightage="20" keywordseo="The-Joe-Rogan-Experience" source="keywords">The Joe Rogan Experience</keyword>." It was last month, not earlier this month.

You Searched For "Donald Trump 2024 presidential election" and got 6 results

The Bitcoin rally does not seem to be stopping anytime soon! Does this spell good news for Indian markets?

BI India Bureau

Trump wins the 2024 presidential election

John L. Dorman,Brent D. Griff…

US Fed cuts interest rates by 25 bps, Powell notes Trump's victory to have no impact on policy decisions

Ira Alok Puranik

AOC asked voters why they backed her candidacy and Trump's reelection. Instagram users pointed to the economy and Gaza.

John L. Dorman

Joe Rogan endorsed Donald Trump, saying Elon Musk made a 'compelling case' for the former president

Erin Snodgrass

Photos show Americans' mixed reactions to Donald Trump's sweeping victory in the 2024 election

Talia Lakritz

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